Common use of Limitation on Net Losses Clause in Contracts

Limitation on Net Losses. If any allocation of Net Loss or an item of deduction, expenditure or loss to be made pursuant to Section 7.5, Section 7.6 or this Section 7.7 for any Accounting Period would cause a deficit in any Partner's Adjusted Capital Account (or would increase the amount of any such deficit), then the relevant amount shall be allocated to such Partners that have positive Adjusted Capital Account balances in proportion to the respective amounts of such positive balances until all such positive balances have been reduced to zero.

Limitation on Net Losses. If any allocation of Net Loss or an item of deduction, expenditure or loss to be made pursuant to Section 7.5, Section 7.6 8.1(a) or this Section 7.7 8.1(b) for any Accounting Period would cause a deficit in any Partner's Member’s Adjusted Capital Account (or would increase the amount of any such deficit), then the relevant amount that would cause such deficit shall be allocated to such Partners Members that have positive Adjusted Capital Account balances in proportion to the respective amounts of such positive balances until all such positive balances have been reduced to zero.

Limitation on Net Losses. If any allocation of Net Loss or an item of deduction, expenditure or loss to be made pursuant to Section 7.5, Section 7.6 8.1(a) or this Section 7.7 8.1(b) for any Accounting Period would cause a deficit in any PartnerMember's Adjusted Capital Account (or would increase the amount of any such deficit), then the relevant amount that would cause such deficit shall be allocated to such Partners Members that have positive Adjusted Capital Account balances in proportion to the respective amounts of such positive balances until all such positive balances have been reduced to zero.

Limitation on Net Losses. If any allocation of Net Loss or an item of deduction, expenditure or loss to be made pursuant to Section 7.56.2, Section 7.6 6.3 or this Section 7.7 6.4 for any Accounting Period would cause a deficit in any Partner's Member’s Adjusted Capital Account (or would increase the amount of any such deficit), then the relevant amount shall be allocated to such Partners Members that have positive Adjusted Capital Account balances in proportion to the respective amounts of such positive balances until all such positive balances have been reduced to zero.